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Royal Central Hotel The Palm

Central Hotels & Resorts achieve 2.6% growth in Q1 2024

DUBAI, May 15, 2024

Central Hotels & Resorts, a leading hospitality group focused on innovation, said expansion into new markets contributed to a growth of 2.6% in occupancies in the first quarter of 2024, compared to the same period in 2023.

The growth is primarily attributed to the travel trade segment, which contributed approximately 48% to the total occupancies and revenues across its three key properties.

Despite the absence of any extraordinary events compared to the previous year, the implementation of last-minute promotions, such as limited-time deals and package offerings, played a significant role in bolstering strong performance, the group said.

Notably, the first quarter of 2024 witnessed an expansion into new markets, with Romania, Kazakhstan, Netherlands, Belgium, and Cyprus emerging as pivotal contributors.

These markets have demonstrated remarkable growth compared to the preceding year, underscoring Central Hotels & Resorts' commitment to exploring diverse opportunities and catering to a global audience.

The 2024 Ramadan period also emerged as a shining moment, which Central Hotels & Resorts said surpassed all expectations with an exceptional overall occupancy rate of 82%+, far exceeding projected targets and amplifying revenue beyond anticipated levels.

Similarly, the performance during the 2024 Eid period showcased unwavering consistency, affirming Central Hotels & Resorts' steadfast commitment to excellence and customer satisfaction, a statement said.

“Our impressive first-quarter performance is a testament to the dedication and resilience of our team at Central Hotels & Resorts,” said Abdulla Al Abdulla, Chief Operating Officer and Group General Manager of Central Hotels and Resorts.

“We are immensely proud of the progress we've made in elevating guest experiences and achieving growth amidst challenges. As we look ahead, we remain steadfast in our commitment to excellence, eagerly anticipating continued success throughout the remainder of the year.

“With a focus on innovation and guest satisfaction, we are confident in our ability to exceed expectations and set new benchmarks in the hospitality industry,”

The three properties under the Central Hotels & Resorts umbrella – Royal Central Hotel The Palm, Canal Central Hotel Business Bay, and First Central Hotel Suites – have each played a significant role in the group's growth story. – TradeArabia News Service

 

 




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